Applicability of Tax Audit
This query is : Resolved
08 July 2008
If any Individual deals in Shares as Day Trader and if his Turnover(i.e. Sale or Purchase) exceeds Rs.40 Lakhs whether he will liable for Tax Audit or not ?
09 July 2008
Yes, he would well be liable for Tax Audit. Even trading in Futures/options also constitutes turnover.
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